Revisiting the “Keynes Plan” for an International Clearing Union in a Eurozone Perspective

 
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2020 (EL)

Revisiting the “Keynes Plan” for an International Clearing Union in a Eurozone Perspective (EL)
Revisiting the “Keynes Plan” for an International Clearing Union in a Eurozone Perspective (EN)

Emmanouil-Kalos, Alkinoos

The last decade has been turbulent for the EMU, with many structural weaknesses becoming apparent. While in a state of emergency, the European Central Bank has had to “reinvent” itself in order to stabilize the Eurozone, while the vital importance of the imbalances between the member states has been recognized, as the establishment of the Macroeconomic Imbalances Procedure (MIP) indicates. Yet, it is widely acknowledged that the architecture of the Eurozone needs structural reforms. This policy brief aims to present the case for the adoption of the core ideas of the “Keynes Plan” for an International Clearing Union, which could function as an important first step towards fighting intra-eurozone imbalances, hence strengthening the EMU. Given the existence of the European Central Bank and the common currency, a moderate version of such a plan could be implemented even without the need for any changes in the EU treaties, and could be the stepping stone for further economic integration. (EL)
The last decade has been turbulent for the EMU, with many structural weaknesses becoming apparent. While in a state of emergency, the European Central Bank has had to “reinvent” itself in order to stabilize the Eurozone, while the vital importance of the imbalances between the member states has been recognized, as the establishment of the Macroeconomic Imbalances Procedure (MIP) indicates. Yet, it is widely acknowledged that the architecture of the Eurozone needs structural reforms. This policy brief aims to present the case for the adoption of the core ideas of the “Keynes Plan” for an International Clearing Union, which could function as an important first step towards fighting intra-eurozone imbalances, hence strengthening the EMU. Given the existence of the European Central Bank and the common currency, a moderate version of such a plan could be implemented even without the need for any changes in the EU treaties, and could be the stepping stone for further economic integration. (EN)

info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article (EN)

International Political Economy (EN)
International Trade (EN)
Keynes Plan (EN)
ECB (EN)
TARGET2 (EN)
Bretton Woods (EN)
Current Account Balance (EN)
Euro (EN)
Eurozone (EN)


HAPSc Policy Briefs Series

Αγγλική γλώσσα

2020-12-29


Hellenic Association of Political Scientists (HAPSc) (EN)

2732-6586
2732-6578
HAPSc Policy Briefs Series; Τόμ. 1 Αρ. 2 (2020): HAPSc Policy Briefs Series; 287-294 (EL)
HAPSc Policy Briefs Series; Vol. 1 No. 2 (2020): HAPSc Policy Briefs Series; 287-294 (EN)

Copyright (c) 2020 Alkinoos Emmanouil-Kalos (EN)



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